Jeera futures down 0.72 pc on weak demand

NEW DELHI: Jeera prices fell by Rs 97.50 to Rs 13,530 per quintal in futures trade today as speculators offloaded their positions, tracking a weak trend at spot market on weak domestic as well as overseas demand.

Prospects of better sowing after the monsoon revived late in growing areas also influenced jeera prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in October month fell by Rs 97.50, or 0.72 per cent, to Rs 13,530 per quintal, with an open interest of 11,721 lots.

Likewise, the spice for delivery in November traded lower by Rs 77.50, or 0.56 per cent, to Rs 13,785 per quintal in 15,105 lots.

Marketmen said the fall in jeera futures prices was mostly due to off-loading of positions by speculators on the back of weak demand and hopes of higher sowing in growing areas following improved rains, mainly kept pressure on jeera futures.